How are retail finance applications assessed?

In addition to assessing the information the customer provides, we also obtain a wide range of credit, affordability and fraud data from credit reference agencies, fraud prevention agencies and other data providers. We run all of this data through our sophisticated models to determine whether the customer should be auto accepted, referred or declined.

Where the loan is auto accepted, as is the case in the vast majority of applications, the loan is then immediately processed. Whereas, in the event of a referred case, we will assess the case manually before approving or declining. In some situations, we will request the customer to upload some documents (such as ID or bank statements) directly into our application. We’ll let the customer know at the time of applying if we need anything else.

You can find out more about our underwriting process by clicking here.